Asia Open - Overnight Highlights

EMERGING ASIA

EM currencies perform mostly stronger against the USD as USD is kept lower before Friday's NFP. The biggest winners are PHP by 0.64%, followed by MYR 0.58%, IDR 0.44%, SGD 0.37%, CNH 0.19%, CNY 0.07% and HKD 0.03%; the largest loser are KRW 0.22% and TWD 0.03%.

USD/CNH is trading lower at 7.2635 from 7.2776 previously closed. Onshore spot market is trading lower at 7.2581 from 7.2640 previously closed. 12 month NDF followed both the on/offshore market and is trading lower at 7.0826 compared to 7.0946 previously closed.

USD/IDR spot market is trading lower at 15862 from 15937 previously closed. 1 month NDF is trading lower at 15866 from 15926 previously closed.

USD/INR onshore spot market is trading lower at 84.73 from 84.74 previously closed.. 1 month NDF is trading higher at 84.83 from 84.87 previously closed.

North America Session

After a quiet morning in Europe the USD lost some ground early in North America, EUR/USD rising to 1.0585 from 1.0530 and GBP/USD rising to 1.2755 from 1.2715. While the EUR and GBP gains were sustained, a similar early dip in USD/CAD was reversed, though both AUD and CAD ended slightly firmer. USD/JPY settled near 150 after having risen to 150.70 from 149.70.

There was not much news. US initial claims bounced to 224k from 215k but remain low and the data could have been influenced by seasonal adjustments in the Thanksgiving week.